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ID HJR005
Joint Resolution
AI Summary
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Proposes adding Section 3E to Article VIII of the Idaho Constitution to allow political subdivisions and regional airport authorities to issue revenue and special facility bonds for airport projects.
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Permits acquisition, construction, installation, and equipment of airport land, facilities, buildings, and projects that are deemed for public purposes, including financing for lease, sale, or disposal to private entities.
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Requires all bonds to be payable solely from airport revenues including fees, charges, rents, payments, and grants derived from airport operations, not from the taxing power or full faith and credit of the subdivision or authority.
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Exempts airport bond financing from limitations imposed by Article VIII Sections 3 and 4 and Article XII Section 4 of the Idaho Constitution.
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Directs the Legislative Council to prepare required statements and the Secretary of State to publish the amendment and supporting arguments for voter consideration at the next general election.
Legislative Description
Proposing an amendment to the Constitution of the State of Idaho to provide for revenue and special facility bond financing for airports and air navigation facilities.
REVENUE AND SPECIAL FACILITY BONDS
Last Action
To Secretary of State
3/22/2010